Nicholas Moore has been appointed chair of the new watchdog tasked with overseeing the Australian Prudential Regulatory Authority and the Australian Securities and Investments Commission.
Former Macquarie Group CEO Nicholas Moore has been appointed chair of the Financial Regulator Assessment Authority (FRAA).
Mr Moore’s appointment was announced by Treasurer Josh Frydenberg on Friday, alongside the appointments to the FRAA board of Gina Cass-Gottlieb, partner at the Competition and Regulation Group of Australian law firm Gilbert + Tobin, and the CEO of Medibank, Craig Drummond.
The FRAA was established in response to recommendations 6.13 and 6.14 of the Royal Commission into Misconduct in the Banking, Superannuation and Financial Services Industry, and is tasked with reviewing and reporting on the effectiveness and capability of ASIC and APRA.
“Together, the inaugural members have an in-depth understanding of Australia’s regulatory framework and first-hand experience working with ASIC and APRA over many years,” Treasurer Frydenberg said.
“They also have strong organisational experience which will assist in their assessment of the operational performance of both ASIC and APRA.”
